Debt per John Adams

A friend of mine sent this along.

There are two ways to conquer and enslave a nation.  One is by the sword. The other is by debt.

President John Adams

I think this is a good point.  President John Adams may have drawn this conclusion from the French Revolution.  In fighting the British, which including helping us in our own fight for freedom and independence, France ran up a big debt.  It all started to unravel from there, as the French King had to convene the Estates-General in May of 1789, to raise additional revenue with which to carry on.  It was all down hill from there.  Over at UMass Lowell one of the Professors has a test question—When did the French Revolution End.  I suspect with a little effort one could argue that it has yet to end.

Regards  —  Cliff